SG Blocks Partners With Housing Startup to Bring Affordable Container-Based Homes to the Market
19 May 2020 - 10:30PM
Business Wire
New Structures Fuse RhoHouse’s CORE Modules
and SG Block’s Signature GreenSteel™
SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, innovator
and fabricator of container-based structures, today announced that
it has partnered with RhoHouse LLC, a technology-focused housing
startup in Asheville, NC, to bring well-designed, affordable houses
to the market using RhoHouse’s CORE modules.
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CORE modules combine the mechanical, electrical and plumbing
functions of a home into a single appliance, which is built in a
controlled factory setting. After inspections, these “CORES” are
delivered to their homesites—complete with bathrooms, kitchens,
laundry, electrical panels and all major mechanical systems of a
home.
“We are excited to help RhoHouse bring a new twist on the
current homebuilding process and implement innovative solutions for
more affordable housing,” said Paul Galvin, Chairman and CEO of
SG Blocks. “By relocating much of the skilled labor to a
controlled factory setting, this solution eliminates the barriers
and bottlenecks of traditional construction process.”
“Using containers as a structural, and easily transportable,
chassis for our CORES is an ideal marriage between pre-fab and
site-built approaches—offering the advantages of both,” said
Dale Freudenberger, CEO and co-founder of RhoHouse LLC. “Our
collaboration with SG Blocks is a big step toward scaling to what
we ultimately hope is an international effort of bringing
thoughtfully designed affordable homes to people who need them all
over the world.”
The first RhoHouse homes using SG Blocks’ signature GreenSteel™
are expected to begin construction in the next 30-60 days.
About SG Blocks, Inc.
SG Blocks, Inc. is a premier innovator in advancing and
promoting the use of code-engineered cargo shipping containers for
safe and sustainable construction. The firm offers a product that
exceeds many standard building code requirements, and also supports
developers, architects, builders and owners in achieving greener
construction, faster execution, and stronger buildings of higher
value. Each project starts with GreenSteel™, the structural core
and shell of an SG Blocks building, and then customized to client
specifications. For more information, visit www.sgblocks.com.
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. These forward-looking
statements are based upon current estimates and assumptions and
include statements regarding partnering with RhoHouse LLC to bring
well-designed, affordable houses to the market using RhoHouse’s
CORE modules and the first RhoHouse homes using SG Blocks’
signature GreenSteel™ beginning construction in the next 30-60
days. While SG Blocks believes these forward-looking statements are
reasonable, undue reliance should not be placed on any such
forward-looking statements, which are based on information
available to us on the date of this release. These forward-looking
statements are subject to various risks and uncertainties, many of
which are difficult to predict that could cause actual results to
differ materially from current expectations and assumptions from
those set forth or implied by any forward-looking statements.
Important factors that could cause actual results to differ
materially from current expectations include, among others, the
Company’s ability to bring houses to the market using RhoHouse’s
CORE modules as planned, the Company’s ability to position SG
Blocks for future profitability, the Company’s ability to maintain
compliance with the NASDAQ listing requirements, and the other
factors discussed in the Company’s Annual Report on Form 10-K for
the year ended December 31, 2019 and the Company’s subsequent
filings with the SEC, including subsequent periodic reports on
Forms 10-Q and 8-K. The information in this release is provided
only as of the date of this release, and the Company undertakes no
obligation to update any forward-looking statements contained in
this release on account of new information, future events, or
otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200519005249/en/
Media Rubenstein Public Relations Christina Levin Account
Director 212-805-3029 clevin@rubensteinpr.com
or
Investor Relations James Carbonara Hayden IR (646) 755-7412
james@haydenir.com
Brett Maas Hayden IR (646) 536-7331 brett@haydenir.com
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